Mortgage Fraud Awareness and Prevention
Join us for this webinar on “Mortgage Fraud Awareness and Prevention” to increase fraud-detection ability across your organization. The session is designed for both risk and production team members and will cover the following key topics: • What is mortgage fraud and why should you care? • Why a zero-fraud tolerance culture is the key • Mortgage industry fraud trends – current and future schemes • Documents from the ongoing California fake employer scheme • Examples of fake paystubs, W2s, asset statement, and employer websites • Red flags on automated verification services and digital mortgages • Tips for spotting fraud – it’s a mix of automation, job aids, a sharp eye and common sense • Follow the money - it’s all about the “who”; applying the fraud triangle • Brief exercises to spot flaws in docs • Brief quiz questions to reinforce learning • Specific recommendations for change to your company’s approach to fraud prevention. Attendees will receive SWS Risk Advisory’s exclusive 5-minute fraud finder tool This session will be led by Steve Spies, Principal and Founder of SWS Risk Advisory LLC, a risk management consulting firm to the financial services, real estate, and mortgage industries. Prior to recently starting his own consulting practice, Steve was Fannie Mae’s top Quality Control Executive. His 200+ person team conducted over 100k due diligence reviews annually while engaging Fannie Mae’s nationwide lender base on how to control and improve loan manufacturing quality. In addition, he was part of Fannie Mae’s leadership team that developed credit policy and risk management guidelines, setting the bar for the $10 trillion mortgage industry. He played a prominent role in guiding the mortgage market out of the real estate crisis by instilling fundamental risk disciplines while innovating new concepts such as conceiving and coauthoring Beyond the Guide, Fannie Mae’s ground-breaking manifesto on what a strong risk and QC culture embodies.